Property Management Blog

80 Questions to Ask BEFORE Hiring Your Next Property Management Company

1. Will I have one specific property manager? Who will be my property manager?

You want to know who will be your specific property manager and know their name. I am all about accountability, and you want to know and meet with your property manager, not just the marketing director or whoever is in charge of new business.

2. Who is the head of the office?

You want to know the broker in case something goes wrong. Brokers have PMs who work under their license, so ultimately it is the head broker who runs the show.

3. How long have you been a property manager?

The length of time is important to know. That being said, a hungry newbie who wants to learn, in my experience, is often times better than the most advanced person, because they care.

4. How many units do you manage?

For me this is more so food for thought because large and small management companies both have their pros and cons. There are benefits to a large office and also to a small office; the key is to know which one you are getting and to make sure you are comfortable with the pros and cons.

5. What is the average length that clients stay with you?

You want a property manager who is in it for the long haul. While this might not be a truthful answer or able to be substantiated, it is still good to ask.

Snow and other forms of precipitation in the Northeast are expected to rival that of a record-shattering year last year as winter gains momentum in January and February. Other parts of the country will be no doubt affected as winter begins to enter its stretch run.

For a home owner, a heavy snowfall can be particularly damaging and dangerous. November’s blizzard in Western New York that posted snowfalls up to seven feet took its toll on numerous homes and businesses. Collapsed roofs from the heavy weight of the snow were among the nearly $50 million in damages reported.

Budget forecasting is one thing that many portfolio managers don’t often relish. Investors demand to see how expenses are tracking with the budget, requiring operators and third-party managers the often arduous task of crunching numbers and looking into that crystal ball.

“It is a task that all too frequently is ‘have to’ instead of ‘want to’. ” says Christine Fisher of RealPage, Inc.

Property managers in the industry today are leaning towards hiring a property management company who looks after the property and deals with the daily operations of the business. Like every other industry, there are some good companies and some bad ones. Therefore, a property manager must choose a management company that is going to make their work easier rather than harder. The amount of properties an owner has does not have any bearing whatsoever on the process of hiring an effective property management company.

Is it time for you to find a new property management company? Has your current company grown lazy and not doing the job required? We are here to help. Rental Choice (.com) was designed to connect property owners with a qualified property management company that knows how to keep your property top-notch. We believe in property management and realize the need for it. You may be a landlord ready to have tenants that will take care of your property and pay their rent on time. Maybe you are a property owner that lives far away from your property. Maybe you just received a promotion at your job and your boss is moving you across country. Let us take the stress off you finding a management company.

Everyone has heard of them, a movie or horror stories, some have even experienced them as neighbors, but the worst of all is when you are the landlord of this frightening tenant. The one that never pays rent on time, always has complaints, and leaves a sloppy mess in your property. There is a solution to such a problem, searching for a good tenant. We are here to encourage you with the fact that good tenants really do exist. But, the hardest thing about getting a good tenant, is finding one.

Property management is all the buzz these days, as it is becoming the saving grace of the real estate industry. Across the country, real estate agents and realtors who are unable to maintain consistent listings and sales have turned to property management as a steady income stream until the market “picks up” again. This increase in competition for property management accounts by quasi real estate agents/managers has lead many who want to build their property management portfolio to take on any and all assets.

For rental property owners who do not have the time and the knowledge to properly manage their business, hiring a rental property manager is the best move going forward. If you are thinking about hiring a manager, there are a lot of things you need to consider to ensure that you will be able to choose the right one. After you have decided on the right manager, you then have to look at the agreement to make sure that you protect yourself and your business.

There are a lot of people who are getting into the real estate business, because this can help them produce passive income without all the risks of building their own business. However, there are still a lot of things that you need to do if you are going to get into a real estate, and this is not what "passive income" really is.

Hiring a building management company has become one of the preferred ways to manage ones building assets and get high rate of returns. In order to get the full benefit of employing a managing firm and avoid hassle, it is essential to carefully choose a good licensed firm and read the terms and conditions of the contract. This can influence the way the firm will work for you.

Some of the essential components of the property management contract are: